Northern Tier Credit Union
Northern Tier Credit Union is headquartered in Minot Afb and is the 9th largest credit union in the state of North Dakota. It is also the 1,417st largest credit union in the nation. It was established in 1959 and as of March of 2014, it had grown to 33 employees and 12,388 members. Northern Tier Credit Union's money market rates are 36% higher than the national average, and it has a B+ health rating.
Field of Membership Restrictions
Must live within a 50 mile radius of Velva or Willow City. - See Details
Data for Q1 2014
Institution Health
Texas Ratio
The Texas Ratio is an indicator of how much capital a bank has available compared to the total value of loans considered at risk. As of March 31, 2014 Northern Tier Credit Union had $1.61 million in non-current loans and owned real-estate with $9.78 million in equity and loan loss allowances on hand to cover it. This gives Northern Tier Credit Union a Texas Ratio of 16.44% which is above average. Any bank with a Texas Ratio near or greater than 100% is considered at risk.
Texas Ratio Trend
The Texas Ratio for Northern Tier Credit Union decreased dramatically from 25.19% as of March 31, 2013 to 16.44% as of March 31, 2014, resulting in a positive change of 34.74%.This indicates that the balance sheet and financial strength for Northern Tier Credit Union has improved dramatically in recent periods.
Deposit Growth
In the past year, Northern Tier Credit Union has increased its total deposits by $6.69 million, resulting in 7.12% growth for the year. A strong track record of growth is an indicator of consumer confidence and the bank's ability to strengthen its balance sheet. The growth Northern Tier Credit Union has shown is excellent.
Capitalization
Both FDIC and NCUA consider capitalization levels of banks and credit unions to be of high importance. Higher capitalization allows for a greater buffer when cover loans that may fail in the future. Northern Tier Credit Union has $111.12 million in assets with $9.78 million in equity, resulting in a capitalization level of 8.80%, which is average.
Institution Statistics
| Overall | |
|---|---|
| NCUA # | 12998 |
| Year Chartered | 1959 |
| Employees | 33 |
| Primary Regulator |
| Assets and Liabilities | |
|---|---|
| Assets | $111.12 million |
| Loans | $77.23 million |
| Deposits | $100.66 million |
| Equity Capital | $9.01 million |
| Loan Loss Allowance | $775,000 |
| Unbacked Noncurrent Loans | $1.61 million |
| Real Estate Owned | $0 |
| Historic Data - March 2013 | |
|---|---|
| Assets | $103.45 million |
| Equity Capital | $8.69 million |
| Loan Loss Allowance | $632,000 |
| Unbacked Noncurrent Loans | $1.61 million |
| Real Estate Owned | $0 |
| Profit Margin - Quarterly | |
|---|---|
| Net Interest Margin | 1.1% |
| Return on Assets | 0.39% |
| Return on Equity | 4.84% |
| Interest Income | $1.08 million |
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Northern Tier Credit Union Savings Account Rates
| Details | APY | MIN | MAX | PRODUCT |
|---|---|---|---|---|
| 0.30% | $2,500 | - | Seniority Club Account | |
| 0.25% | $100 | - | Regular Savings Account |
Northern Tier Credit Union Money Market Rates
| Details | APY | MIN | MAX | PRODUCT |
|---|---|---|---|---|
| 0.60% | $50k | - | Super Money Market Account | |
| 0.30% | $1k | - | Money Market Account |
Northern Tier Credit Union Checking Account Rates
| Details | APY | MIN | MAX | PRODUCT |
|---|---|---|---|---|
| 0.25% | - | - | Checking Account |
Northern Tier Credit Union CD Rates
| Details | APY | MIN | MAX | PRODUCT |
|---|---|---|---|---|
| 1.65% | $5k | - | 5 Year CD | |
| 1.40% | $5k | - | 4 Year CD | |
| 1.25% | $5k | - | 3 Year CD | |
| 0.90% | $10k | - | 2 Year CD | |
| 0.80% | $10k | - | 18 Month CD | |
| 0.80% | $10k | - | 1 Year CD | |
| 0.45% | $10k | - | 180 Day CD | |
| 0.15% | $10k | - | 91 Day CD |
Northern Tier Credit Union IRA Rates
| Details | APY | MIN | MAX | PRODUCT |
|---|---|---|---|---|
| 1.70% | $1k | - | 5 Year Lifetime IRA | |
| 1.45% | $1k | - | 4 Year Lifetime IRA | |
| 1.30% | $1k | - | 3 Year Lifetime IRA | |
| 0.95% | $1k | - | 2 Year Lifetime IRA | |
| 0.85% | $1k | - | 1 Year Lifetime IRA |
| Northern Tier Credit Union Locations | ||
|---|---|---|
| Branch Office | 102 Main St N | Velva, ND 58790-7301 |
| Branch Office | 388 Main St | Willow City, ND 58384 |
| Branch Office | 310 Main St E | Butte, ND 58723-9998 |
| Branch Office | 1819 S Broadway | Minot, ND 58701-6505 |
| Branch Office | 210 Summit Dr | Minot Afb, ND 587055006 |